EMGS CEO Roar Bekker and CFO Svein Knudsen presented the third quarter results at Hotel Continental, Oslo.
Highlights in the third quarter 2011:
* Total revenues at USD 45.5 million for the quarter
* EBITDA of USD 11.9 million
* Net income of USD 7.5 million
* Contract worth USD 90 million awarded by Petrobras
* Acquisition of OHM provides EMGS with flexible vessel capacity
* EMGS awarded survey offshore Ghana by new customers
Subsequent important events:
* EMGS secured pre-funding from ExxonMobil for multi-client basalt mapping survey in Norwegian Sea
“We are pleased to follow up on the financial and operational performance in the second quarter with another excellent quarter,” says Roar Bekker, EMGS chief executive officer . “Our backlog remains strong thanks to new significant contract awards. This, along with the vessel capacity we have secured through the acquisition of OHM, provides us with a solid and flexible platform for growth.”
[mappress] Subsea World News Staff , November 18, 2011; Image: EMGS